Bulding a Classic Head Gold Collection, Part 1
BillJones
Posts: 34,820 ✭✭✭✭✭
Board member @Paradisefound posted the following message:
When did you start and I bet there are a lot of stories along the way...Congrats! May I see the other 18 coins?
I have decided pick up on this suggestion. If there is interest I will cover the other 18 coins eventually.
I decided to collect these two sets about four years ago. Prior to that I had type coins for the design and then type coins for the Charoltte and Dahlonega Mints. After I had those coins, I started to think, "Wouldn't it be fun to collect the rest of the sets? I already have the tough coins." Little did I know ...
I have had an interest in the Andrew Jackson and the "bank war" since the 1970s. Back then I wrote a series of three articles about Hard Times Tokens for the Early American Coppers Club. Now I decided to collect the gold that was part of that " bank war."
My goal was to form sets that ranged in grade from Choice AU to low end Mint State. That is a challenging goal. There were few coin collectors in the U.S. in 1830s. Most of what few there were not disposed to save the current gold coins because of the high face value. Today $5 might not seem like much today, but back then it was a week’s wages or the better part of that. Therefore one had to think twice before you would put aside $2.50 or $5.00 for a coin collection. Most of the high grade coins survived by chance.
“REAL” Mint State Classic Head gold pieces are few and far between. Most of the MS-60, 61 and 62 graded pieces are really AUs in my opinion, but “market grading” play a role here. I draw the line when the AUs are graded MS-63 or higher because the prices really go up at that point. So those were my collecting ground rules.
I’ve been working on exhibit for these coins. I had written some text for each piece, that has proven to be too long for an exhibit. Rather than throw it all away I’ll post it here for each coin. The Mintages are from The Red Book and the survival estimates are mostly from “Coin Facts.”
So here goes.
1834 Quarter Eagle
Mintage 112,234
Estimated Number of Survivors 1,750
It has been my experience that the 1834 Classic Head quarter eagle is the second most common date in the series. It is somewhat scarcer than the 1836 quarter eagle although it is frequently offered at the larger coin shows and auctions. Most examples fall in the VF to EF grade range, but the coin can be found in Mint State with some patience. These coins were issued before there were very many coin collectors in America, and in the 1830s, $2.50 was a considerable sum to lay aside for a collectors’ item
The strike for this date is often sharper than it is for some of the later issues. This makes this date a good candidate for type collectors. A fair number of the higher grade pieces have Proof-Like surfaces.
The coin shown above is graded MS-60, but it is really an AU-58. There is a minor, generalized rub in the fields which take this piece out of strict Mint State category.
I bought this piece from Gary Adkins at the 2016 Summer FUN Show.
Comments
Beautiful coin love to see the collection. I don't collect that many gold coins due to the cost but love looking at them. I got one on the way but nothing like that eagle design. She looks alive!
Thanks for sharing.
This is the Small Head die marriage. The other three die marriages for 1834 quarter eagles are all the Large, or Booby Head style.
Very nice coin...and I agree with your AU58 grade.... Cheers, RickO